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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World China to build $1.5 bn trading centre in Thailand AFP - Friday, January 7 Send IM Story Print BEIJING (AFP) - – China will build a "commercial city" in Thailand worth $1.5 billion that will allow traders to re-export Chinese-made goods and avoid costly tariffs, state media said Thursday. More than 70,000 Chinese traders are expected to operate in the China City Complex in Bangkok, helping them miss levies on products shipped directly from China, the China Daily said, citing officials involved in the development. The 700,000-square-metre (7.5 million square foot) centre -- equivalent to 100 football pitches -- will resemble the world's largest wholesale market for small products in the city of Yiwu in eastern China, the report said. Construction of the centre will begin on January 18 and is expected to be finished by 2013, it added. "Apart from the business opportunities in Thailand, Chinese exporters can also promote their products to developed markets such as the European Union and the United States through this project," Yang Fangshu, chairman of the ASEAN-China Economic and Trade Promotion Centre, was quoted as saying. China signed a free trade agreement with Southeast Asian countries including Thailand in January 2010 which reduced or removed tariffs on traded goods. Export-driven China has seen its trade surplus with the rest of the world balloon in recent years, reaching $196.1 billion in 2009 and triggering rows with trading partners who complain their shelves are been flooded with cheap Chinese-made products. China was targeted in a record 127 cases brought by trading nations in 2009, the report said, without providing details. The country's trade surplus likely topped $190 billion in 2010, a commerce ministry official said recently. China is due to release full-year trade data next week. There have been a series of trade spats between China and its key trading partners, the United States and Europe, from chicken products and modems to steel fasteners and China's yuan exchange rate policy. Washington has led a chorus of complaints that China's exchange rate controls have made the country's exports artificially cheap and given its manufacturers an unfair advantage. Recommend Send IM Story Print Related Articles US-BUSINESS Summary Reuters - 17 minutes ago RPT-Australia coal sector recovery seen taking months Reuters - 17 minutes ago Why U.S. inside traders escape harsh sentences Reuters - 17 minutes ago Clinton says Pakistan fuel price move a 'mistake' Reuters - 29 minutes ago Goldman customers get Facebook financials Reuters - 31 minutes ago News Search Top Stories Egypt Copts mark Christmas under tight security France fears 'economic war' after Renault spy scandal VW, Daimler to sign $5bn Chinese contracts: source De Niro to lead Cannes film festival jury US Treasury asks Congress to lift debt ceiling More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Falling blackbirds baffle Arkansas officials Hasta la Vista: Arnie quits as California governor Goldman deal 'values Facebook at $50 billion' Spain lotto winner nearly loses millions by tossing tickets Brazil's 2010 trade surplus lowest in 8 years: official More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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